Video Explainer – What is a unit entitlement?
Entitlements are the ratios which divide up the values of your lot, compared to others in your group / Strata.
Entitlements are the ratios which divide up the values of your lot, compared to others in your group / Strata.
Strata Committees help to keep your property running. They are the Individuals (Owners) of the property, elected by the Members at a meeting, to assist in guiding the group.
What is the Strata Report; Section or Search document? Financial health—Are levies up to date? Are there special levies? Maintenance history—Any major repairs coming or works placed on hold? Disputes—Are there ongoing issues in the building?”
Each owner pays based on unit entitlements, basically a percentage, applied by the strata plan. No two Strata groups have the same costs, maintenance and levies
A well-planned strata means fewer surprises! That’s where a Long-Term Strata Maintenance Plan comes in.